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Following are the transactions of Sustain Company. June 1 T. James, owner, invested $17,500 cash in Sustain Company in exchange for common stock. 2 The
Following are the transactions of Sustain Company. June 1 T. James, owner, invested $17,500 cash in Sustain Company in exchange for common stock. 2 The company purchased $10,500 of furniture made from reclaimed wood on credit. 3 The company paid $1,900 cash for a 12-month insurance policy on the reclaimed furniture. 4 The company billed a customer $9,500 in fees earned from preparing a sustainability report. 12 The company paid $10,500 cash toward the payable from the June 2 furniture purchase. 20 The company collected $9,500 cash for fees billed on June 4 21 T.James invested an additional $16,500 cash in Sustain Company in exchange for common stock. 30 The company received $11,500 cash from a client for sustainability services for the next 3 months. Prepare general journal entries for the above transactions. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 T. James, owner, invested $17,500 cash in Sustain Company in exchange for common stock. Note: Enter debits before credits. Date Debit General Journal Credit June 01
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